Saudi Arabia's Boulevard Business Park: Accelerating Sustainable Urban Planning to Foster Foreign Investments
Discover the newly launched Boulevard Business Park in Riyadh, and learn more about what it means for global businesses eyeing Saudi.
The recently unveiled $266 million Boulevard Business Park aims to transform the concept of sustainable urban development by promoting economic and social well-being. It also seeks to boost pivotal industries such as retail and hospitality.
The launch of the Boulevard Business Park, managed by the General Entertainment Authority (GEA), represents the first phase of a broader initiative to transform the Boulevard District into an entertainment and business destination, located in the Hittin district of Northern Riyadh.
It aims to integrate several zones through new urban passageways and integrate them with the existing road network and public transportation, prioritizing sustainability, connectivity, and livability.
Setting New Benchmarks in the Use of Mixed-Use Developments in Saudi Arabia
The Boulevard Business Park encompasses 60,000 square meters of leasable space with a total investment exceeding SAR 1 billion, equivalent to $266 million, making it one of the Kingdom’s largest mixed-use developments.
A crucial source of employment, the project paves the way for opportunities for investments and collaboration and the expansion of Saudi Arabia's commercial real estate. This sector is poised for significant growth, reaching an estimated value of $31.35 billion by 2028, with a compound annual growth rate of 8.65%.
The business precinct is designed to embrace the live, work, and play concept that characterizes mixed-use developments. By integrating offices with retail spaces, the project works to deliver long-term benefits to local enterprises and provides, maximizing foot traffic to their businesses.
In addition to retail and concept stores, the Boulevard Park features coworking spaces and nine office buildings with commercial spaces overlooking its flagship Boulevard fountain.
By offering unique experiences and high-quality amenities such as a gym, spa, suspended pool, and hanging gardens, the park aims to offer employees and visitors a meaningful, well-rounded experience while providing hospitality operators the first-mover opportunity to improve guest experiences.
The development of the Boulevard business park will further boost Riyadh's global recognition as a leading example of a smart city and contribute to Saudi Arabia's ambitions to become a leader in sustainable urban planning.
With workplaces and entertainment venues in close proximity, employees and visitors of the Business Park are encouraged to use alternative methods like walking, cycling, and public transportation, reducing reliance on cars.
Considering the scale of these projects, which involve extensive physical footfall and a significant need for manpower to operate the various concepts the Boulevard Business Park hosts, the project remains a catalyst for innovation, global competitiveness, and sustainability, paving the way for a more promising and resilient economic future.
Transforming the Saudi Entertainment Industry by Attracting Arts and Culture Companies
From technology startups to large corporate institutions, the park will serve as a hub for innovation and entrepreneurship. It forms an ideal launchpad for these global companies to establish their presence in Saudi Arabia, offering state-of-the-art facilities, a strategic location in the capital city, and access to a rapidly growing consumer base.
Global and national companies operating in creativity and the art industry, in particular, will stand to benefit massively from the new development, with the initial phase accommodating a new creative work resort dedicated to elevating the local arts and culture industry.
The strategic move will fuel a sweeping wave of innovation across the Saudi entertainment industry and bolster its status as an economic powerhouse, aligning perfectly with Saudi Arabia's vision to become a global entertainment hub amid its pivot towards economic diversification.
Global innovators in the Boulevard Business Park will have the opportunity to showcase their products to prospective clients in the entertainment industry and leverage the district’s location as a home to engaging live performances and leading events, particularly around the annual Riyadh Season, which attracts millions of viewers.
This translates to a rising demand for innovative services in the entertainment industry offered by global companies and an ever-expanding open field for their operations.
This rapid expansion of the entertainment sector in Saudi Arabia is underpinned by a staggering increase in the number of operating companies in the emerging space, which reached 4,000 in 2024, up from fewer than 10 when the GEA was launched in 2016.
By attracting larger crops of global companies, the Boulevard Business Park sets the stage for a globally competitive entertainment industry, playing a pivotal role in increasing the tourism sector’s contribution to over 10% of the GDP by 2030 in line with Vision 2030. The economic significance of the development is strengthened by ute urban development elements, providing a boost to economic activities across core sectors.
